Innholdsfortegnelse for Vol. 60/No. 30 i Beijing Review

Regulatory Priority The top banking regulator said on July 17 it will place more priority on proactively preventing and defusing financial risks. The China Banking Regulatory Commission (CBRC) said in a statement it will focus on guarding against risks in liquidity, credit, shadow banking and other major areas. The commission will make planned and step-by-step efforts to tighten the regulation of interbank investment and financing, leverag- ing and off-balance-sheet business, according to the statement. Reforms of the banking sector will be accelerated to improve lenders’ corporate governance and introduce private capital into the industry in an orderly way, the statement said. It noted that the CBRC will work under the leadership of the new committee on financial stability and development of the State Council, and strengthen coordination with other regulatory…

The Chinese economy expanded 6.9 percent in the second quarter of the year, the same rate as in the first quarter. With this, the growth rate has stayed within the 6.7-6.9 percent range for eight quarters in a row. The growth in the first half of the year was better than expected due to satisfactory in-dustrial performance resulting from supply-side structural reform, double-digit export growth amid recovering global demand and burgeoning domestic consumption, espe-cially soaring online spending. “The Chinese economy continued making progress amid stability. Positive elements are piling up, propping up the economy to maintain medium-to-high speed growth and developing toward a medium-to-high level,” Xing Zhihong, spokesperson for the National Bureau of Statistics (NBS), said at a press conference in Beijing on July 17. According to NBS data, in…

North China’s Shanxi Province is one of the hardest-hit regions in the nationwide anti-corruption campaign implemented by the Communist Party of China (CPC) Central Committee since the end of 2012. Seven pro-vincial-level officials in Shanxi were sentenced. A lot of lower-ranking officials were also placed under investigation for alleged graft. The fall of these officials was likened to an “earthquake” in Shanxi’s officialdom. The “earthquake” also dealt a heavy blow to the local economy. The coal mining indus-try, which used to be the main driving force for Shanxi’s economic growth, was affected because many of the industry’s senior execu-tives were probed on suspicion of bribery. However, the blow was temporary. Led by a disciplined Party committee, Shanxi has seen improvements in both its political ecology and economic development. The current…

Wandering through a maze of alleyways just a stone’s throw away from the crowded Sanqiutian Wharf on Kulangsu Island in Xiamen, Fujian Province, the surround-ing peace and tranquility is broken only by the whisper of banyan tree leaves in the gentle breeze. Rows of impressive, century-old villas stand guard over the visitors who respectfully pass by. Some of the villas were abandoned or deserted for decades, and it was only a few years ago that young, creative entrepreneurs started to restore these decayed buildings to their former glory, converting them into quaint inns, trendy restaurants or art galleries. One such entrepreneur is Zhang Xiaojuan who brought back to life a villa built in 1919 by a Dutch businessman in one of these alleyways and opened a 24-room inn after a…

Chinese President Xi Jinping, also General Secretary of the Communist Party of China Central Committee and Chairman of the Central Military Commission, presents the heads of the People’s Liberation Army (PLA) Academy of Military Science with the military flag at a ceremony in Beijing on July 19. Xi also presented the heads of the National University of Defense Technology and National Defense University of the PLA with the military flag at the ceremony that marked the reshuffling of the three institu- tions. Xi called on the country’s major military research and educational institutions to cultivate more talent for the armed forces.…

RUSSIA An airplane performs at the 13th International Aviation and Space Salon in Moscow on July 18 ZIMBABWE A fire started by demonstrators in Harare on July 12 as youths of the opposition party Movement for Democratic Change-Tsvangirai demanded amendments to the electoral scheme KASHMIR Rescuers remove the injured from the site of an accident after a bus fell into a gorge in Ramban District, Indian-controlled Kashmir, on July 16. At least 16 pilgrims were killed REPUBLIC OF THE CONGO Voters receive election handouts at a polling station in Bacongo, Brazzaville, on July 16. Parliamentary elections were held that day BRAZIL Former President Luiz Inacio Lula da Silva reacts during a press conference at the Workers’ Party headquarters in Sao Paulo on July 13. Lula said he still intended to…

While political parties may be divided on domestic and foreign issues, there is a rare unanimity among the parties of Central and Eastern European (CEE) countries when it comes to their recognition of the Belt and Road Initiative. Over 600 delegates from the spheres of politics and business gathered at the Palace of Parliament, the world’s second largest administrative building, in the Romanian capital Bucharest on July 14 to attend the 2017 China-CEE Countries Political Parties Dialogue. A total of 35 parties from 16 CEE countries, including both ruling and opposi-tion parties from the right, center and left wings, sent their representatives. The event was co-chaired by the International Department of the Central Committee of the Communist Party of China (IDCPC) and Romania’s ruling Social Democratic Party (PSD). The first…

Amidst the rapid stretching out of China’s financial industry, the National Financial Work Conference convened in Beijing on July 14-15, gathering top policymakers to dis- cuss hot financial issues and formulate policies for the sector. Held every five years, the conference is an important event that sets the tone for the country’s financial policies and reform in the coming years, focusing on strengthening coordination between various regulators and fending off systemic financial risks. “Finance comprises a country’s core competitiveness, while financial security lies in the center of national security, and the financial system makes up the foundation for economic and social development,” said President Xi Jinping at the conference. “Now, China is at a crucial stage of finishing building a moderately prosperous society, driving economic transforma- tion and upgrading, and…

In February 2016, China officially submitted Kulangsu as the nation’s nominee in 2017 for inscription onto the UNESCO’s World Heritage List. After a year of unprecedented effort and despite a devastating typhoon causing great damage, Kulangsu was finally inscribed on the World Heritage List as a “Historic International Settlement” at the 41st session of the World Heritage Committee in Krakow, Poland, on July 8. Protection With its unique mixture of architectural styles including traditional southern Fujian, Western classical revival and veranda colonial, Kulangsu, a small island off the coast of Xiamen, southeast China’s Fujian Province, has long been a popular destination for tourists. Thousands of villas and buildings of ma-jor architectural significance have survived the ravages of time since the island was established as an international settlement in 1903. The…

When memory fades and blurs the boundary between reality and fan- tasy, larger-than-life characters may emerge. Han Guangle is one of them. In his late 60s—he doesn’t even know his real age— Han is the epitome of eccentricity, a modern- day Beau Brummel who cuts a striking figure in his antique shop amid the midday hustle and bustle of Kulangsu’s commercial alleyways. His life took some strange twists and turns, with Kulangsu as the backdrop. Kulangsu’s foreign face Han is allegedly the grandson of a Jewish merchant who settled down in Kulangsu during the first decade of the 20th century and married a local woman. His father was first a dentist and then became a minister. In the 1940s, their family went to Hong Kong, where Han was born. The…

China’s Law on Lawyers is to undergo revision. Some people have put forward opinions regarding a clause in the law that states that law education and research per-sonnel are allowed to be part-time lawyers. They call for the cancellation of this clause, arguing that when law professors appear in court, it will lead to judicial injustice, as judges and procura-tors might happen to be their former students. Meanwhile, if they spend too much time acting as lawyers, their teaching and research will be negatively affected. However, others believe that even if judges or procurators meet law professors who were their teachers back in college, this does not necessarily mean potential judicial injustice, as long as there is enough judicial transparency. Those who insist that this will lead to corruption might…

Development Landmark A China-developed CH-5—Caihong (Rainbow) 5 —unmanned aerial vehicle prepares to land at an airport in north China’s Hebei Province on July 14 after a test flight, the model’s first following the start of its mass production. Unveiled in 2016, the CH-5 can conduct reconnaissance, surveillance, patrol, target positioning and strike missions, according to its developer, the China Academy of Aerospace Aerodynamics. It can also be used for civilian purposes such as resource surveys, marine environmental protection, disaster surveys, marine law enforcement and emergency response. Pollution Crackdown Data from the top environmental protection watchdog show that more environmental pollution cases were addressed across China in the first half of this year than in the same period in 2016. From January to June, China investigated and dealt with 17,169 violations…

Western countries have been witness-ing a series of black swan events: Britain’s referendum on its exit from the European Union (EU) in June 2016; the referendum on constitutional amendment in Italy last December and Donald Trump winning the 2016 presidential election in the United States. Behind these events are serious challenges faced by Western political parties, which are trapped in an endogenous crisis comprising three aspects. Mainstream political parties are con- strained in meeting the policy demands of their constituents. This is especially true in EU member nations. After more than half a century of European integration, especially after the EU was established in 1993 to promote a “closer Europe,” it has formed a unified market and governance framework for its 28 member states. People, capital and resources move freely…

The bike-sharing industry has spread to many cities. But despite helping address the “last mile” issue in transportation, it has also caused some new problems. Since the bike-sharing trend is a recent occurrence, the government is still gathering information on how to regulate it. Nonetheless, the regulatory authorities should perform their duties through the principles of inclusiveness and prudence to encourage innovation. They should guide the development of the nascent industry in the fol-lowing aspects. First, the authorities should take into consideration the characteristics of bike-sharing when formulating safety regulations. In the Road Traffic Safety Law there are pro- visions on the legal liabilities of non-motor vehicles. But since bike-sharing companies use an Internet-based rental system, the sector is dealing with riding norms and legal liabilities which are not covered…

Kulangsu, a small pedestrian-only island in southeast China’s Fujian Province, was included into the World Heritage List on July 8 for its complex of time-honored buildings, roads and landscapes. The inclusion was made at the 41st session of the UNESCO World Heritage Committee held in Krakow, Poland. It is China’s 52nd world heri- tage site on the list, making China the country with the most such sites in the world. In its bid, Kulangsu listed 51 groups of representative historical buildings, four his-torical roads, seven representative natural landscapes and two representative cultural buildings. Alongside over 900 well-preserved historical buildings, gardens and a network of historical roads, they feature a unique architectural view of the small island. Unique Xiamen style Facing Xiamen, Kulangsu covers just 1.88 square km. After the end…

Imagin a star performer at the age of 60 still retaining the charisma of their heyday and keeping the audience enthralled during a three-hour performance, and you have the pro-file of the Beijing-based Northern Kunqu Opera Theater (Beikun), which has had the honor of performing in the 2012 London Olympics and re-popularizing an art form that is 600 years old. To celebrate its 60th birth anniversary, Beikun served a cultural feast at the Tianqiao Performing Arts Center in Beijing in June, performing Peony Pavilion, a Kunqu Opera mas- terpiece based on the eponymous romance by Tang Xianzu, a dramatist and writer in the Ming Dynasty (1368-1644) who was William Shakespeare’s contemporary, and other mas- terpieces, marking a Kunqu renaissance. Peony Pavilion was staged with seven actresses playing the role of…